Tax revenue from tech giants soars tai bet88 over 9 million

As of early October, foreign suppliers have paid over VND8.6 trillion (over 9 million) in taxes, marking a nearly 26% increase compared tai bet88 the same period last year.

Notable technology giants contributing tai bet88 this revenue include Google, Meta (Facebook), Microsoft, TikTok, Netflix, and Apple.

The General Department of Taxation (Ministry of Finance) recently reported that 116 foreign suppliers have registered for tax payments through its online portal, an increase of 5 compared tai bet88 the last update. This includes prominent names like Google, Meta (Facebook), Microsoft, TikTok, Netflix, and Apple.

Since the online portal for foreign suppliers became operational in March 2022, the cumulative tax revenue from these companies has reached over VND20.17 trillion (nearly 6 million).

According tai bet88 the tax authorities, major suppliers like Meta (Facebook), Google, Microsoft, TikTok, Netflix, and Apple currently hold approximately 90% of the market share in revenue generated from cross-border e-commerce services in Vietnam.

Other e-commerce platforms like Temu, Shein, and 1688 are currently selling products in Vietnam. These platforms are also subject tai bet88 tax declaration and payment regulations applicable tai bet88 foreign suppliers.

During a government press briefing on November 9, Deputy General Director of the General Department of Taxation, Mr. Mai Son, emphasized that foreign suppliers are responsible for registering, self-calculating, declaring, and paying taxes directly through the General Department of Taxation's online portal on a quarterly basis.

Despite self-declaration, Mr. Son pointed out that in cases where suppliers report inaccurate revenue, the tax authorities will use cross-reference data tai bet88 verify the information. They will then request companies tai bet88 fulfill their obligations and carry out audits if there are signs of fraud or tax evasion.

Furthermore, he mentioned that Temu, the owner of the e-commerce platform, reported zero revenue for the third quarter of 2024. However, it is expected that starting from October 2024, the platform will be required tai bet88 declare taxes and include them in the following quarter.